Stock market today: Dow hits fresh record, stocks close out strong week as inflation cools
Published On Sep 27, 2024, 4:07 PM
U.S. stock markets closed mixed with gains, as the Dow Jones Industrial Average hit a new record, supported by a positive inflation report that suggested cooling price pressures. The S&P 500 turned slightly negative after hitting a record high, whereas the Nasdaq experienced a minor drop. The overall sentiment in the market improved due to favorable GDP data and expectations of potential rate cuts from the Federal Reserve in response to softening inflation readings. Additionally, China’s stimulus efforts boosted investor confidence, particularly benefiting luxury stocks and companies like Alibaba and JD.com.